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Pico y Pala – Bitcoins, Ethereum, Ripple,…

TA: Bitcoin Units New ATH Above $52K, Why Dips Stay Enticing

02/18/2021

Bitcoin value prolonged its rally above the $51,000 degree and it even broke $52,000 in opposition to the US Greenback. BTC traded to a brand new all-time excessive close to $52,745 and it’s consolidating features.

  • Bitcoin broke the $52,000 resistance and traded to a brand new all-time excessive close to $52,745.
  • The worth is buying and selling properly close to $52,000 and it’s effectively above the 100 hourly easy shifting common.
  • There’s a short-term contracting triangle with resistance close to $52,250 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
  • The pair may dip in direction of $51,500 or $51,000, however the bulls are more likely to stay lively.

Bitcoin Value is Exhibiting Optimistic Indicators

There have been largely bullish strikes in bitcoin value above the $50,000 resistance. BTC prolonged its rally above the $51,000 and $51,500 resistance ranges.

Throughout the improve, there was a break above a key contracting triangle with resistance close to $51,200 on the hourly chart of the BTC/USD pair. It opened the doorways for extra features above $52,000 (as mentioned yesterday).

The worth traded to a brand new all-time excessive close to $52,745 earlier than beginning a draw back correction. It’s buying and selling close to $52,000 and it’s effectively above the 100 hourly easy shifting common. There was a break beneath the 23.6% Fib retracement degree of the current improve from the $50,773 swing low to $52,744 excessive.

Bitcoin Price

Supply: BTCUSD on TradingView.com

There’s additionally one other short-term contracting triangle with resistance close to $52,250 on the identical chart. If bitcoin value stays steady, there are possibilities of a contemporary improve above the $52,250 and $52,500 ranges.

The following main resistance is close to the $52,744 excessive, above which the bulls may purpose a break above the $53,000 and $53,200 ranges within the close to time period.

Dips Supported BTC?

If bitcoin fails to clear the triangle resistance, it may right decrease beneath $52,000. The following help is close to the $51,750 degree. It’s near the 50% Fib retracement degree of the current improve from the $50,773 swing low to $52,744 excessive.

The primary help is now forming close to the $51,500 degree, the place the bulls are more likely to take a stand. Any extra losses would possibly lead the worth in direction of the $50,500 help degree.

Technical indicators:

Hourly MACD – The MACD is shedding momentum within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now effectively above the 60 degree.

Main Assist Ranges – $51,500, adopted by $50,500.

Main Resistance Ranges – $52,250, $52,750 and $53,000.